When you join Eastern Bank, you join the largest and oldest mutual bank in the country. We pride ourselves in having knowledgeable and experienced professionals that can provide the expertise, personal attention and service our customers deserve.
As the fourth-largest full-service commercial bank in Greater Boston, we are able to offer you unique opportunities for career growth throughout the organization, as well as a competitive compensation and benefits program.
As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us.
This position supports the Model Risk Management Program within the Enterprise Risk Management Division and reports to the VP Market and Model Risk Manager. The Enterprise Risk Analyst is responsible for helping ensure compliance with the Bank’s Model Risk Management policies and procedures as well as all required regulatory requirements to help mitigate and monitor risk associated with the use of models at the Bank. This includes model risk management program development, independent model validations and other enterprise risk analysis.
Responsibilities include, but are not limited to the following:
•Perform validations on various types of models used by the Bank, model documentation, performing stress testing and sensitivity analysis, reviewing data inputs and outputs, determining reasonableness of assumptions and impact of model limitations, performing model performance assessment and evaluating suitability of the models.
•Support external model validation process through organization of vendor selection and coordination between the vendor and model owner.
•Assist in the design and execution of the Model Risk Management program by identifying and initiating improvements in processes and controls.
•Maintain model inventory within Archer and assist in management of model risk scoring, model assessments, and model validation findings.
•Engage with internal and external stakeholders to facilitate discussion, drive agreement on model development approach, and communicate quantitative methods and results to various stakeholders, including senior management and regulators, through participation in the Model Risk Management Committee.
•Guide model owners through the model validation process, including assisting in confirming model versus tools and informing model owners of governance and validation efforts required.
•Perform ad hoc risk analysis on various projects assigned to the Market and Model Risk Management Department.
•Stay current on industry developments related to Model Risk Management and Enterprise Risk Management
Education and Experience
•Bachelor’s degree in Finance, Economics, Mathematics, Statistics, Quantitative Analysis, or another technical discipline. Advanced degree a plus.
•2-4 years of related experience at a Financial Institution or Consulting Firm in the areas of risk analysis, financial analysis, model validation, or model development.
•Proficient in Microsoft Office
•Proficient in SQL or related database tools
•Proficient in statistical analysis and use of statistical modeling software (SAS, R, Matlab)
•Self-motivated and the ability to work and learn independently•Strong organizational skills•Detail orientated
•Excellent oral and written communication skills
•Ability to communicate complex topics to nontechnical employees